Market Analysts see Graybug Vision Inc. [GRAY] gaining to $42. Time to buy?

Graybug Vision Inc. [NASDAQ: GRAY] price surged by 7.15 percent to reach at $2.14. The company report on January 7, 2021 that Graybug Vision Completes Treatment Phase of ALTISSIMO Trial in Wet AMD with 12-Month Topline Data Expected in Second Quarter 2021.

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Graybug Vision, Inc. (Nasdaq: GRAY), a clinical-stage biopharmaceutical company focused on developing transformative medicines to treat chronic vision-threatening diseases of the retina and optic nerve, announced the last patient visit in its GB-102 Phase 2b ALTISSIMO core trial (the 12-month treatment phase) in wet age-related macular degeneration (wet AMD). ALTISSIMO 12-month topline data are expected to be announced in the second quarter of 2021, with full results to be presented at a medical conference later in the year.

Of the 56 patients enrolled in ALTISSIMO, 50 patients completed the 12-month treatment phase, while the remaining six patients withdrew for reasons unrelated to their treatment. Furthermore, 58 percent of patients who completed their Month 12 visit were eligible and agreed to continue clinical monitoring in a six-month extension of the trial. The goal of this six-month extension period is to observe further durability of GB-102 in wet AMD patients.

A sum of 82349 shares traded at recent session while its average daily volume was at 119.78K shares. Graybug Vision Inc. shares reached a high of $34.00 and dropped to a low of $29.07 until finishing in the latest session at $32.06.

The one-year GRAY stock forecast points to a potential upside of 8.4. The average equity rating for GRAY stock is currently 1.60, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Graybug Vision Inc. [GRAY]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GRAY shares is $35.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GRAY stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cantor Fitzgerald have made an estimate for Graybug Vision Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on December 22, 2020. While these analysts kept the previous recommendation, Wedbush raised their target price to Outperform. The new note on the price target was released on October 20, 2020, representing the official price target for Graybug Vision Inc. stock. Previously, the target price had yet another raise to $35, while SVB Leerink analysts kept a Outperform rating on GRAY stock.

The Average True Range (ATR) for Graybug Vision Inc. is set at 2.79 The Price to Book ratio for the last quarter was 7.42, with the Price to Cash per share for the same quarter was set at 4.85.

GRAY Stock Performance Analysis:

Graybug Vision Inc. [GRAY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 22.98.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GRAY stock in for the last two-week period is set at 63.62, with the RSI for the last a single of trading hit 70.05, and the three-weeks RSI is set at 60.73 for Graybug Vision Inc. [GRAY]. The present Moving Average for the last 50 days of trading for this stock 25.50, while it was recorded at 29.11 for the last single week of trading.

Insight into Graybug Vision Inc. Fundamentals:

Return on Total Capital for GRAY is now -185.52, given the latest momentum, and Return on Invested Capital for the company is -183.22. Additionally, GRAY Total Debt to Total Capital is recorded at 462.40, with Total Debt to Total Assets ending up at 323.08.

Reflecting on the efficiency of the workforce at the company, Graybug Vision Inc. [GRAY] managed to generate an average of -$1,277,138 per employee.Graybug Vision Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 12.30 and a Current Ratio set at 12.30.

Graybug Vision Inc. [GRAY] Insider Position Details

There are presently around $475 million, or 85.50% of GRAY stock, in the hands of institutional investors. The top three institutional holders of GRAY stocks are: DEERFIELD MANAGEMENT COMPANY, L.P. (SERIES C) with ownership of 5,281,713, which is approximately New of the company’s market cap and around 5.44% of the total institutional ownership; ORBIMED ADVISORS LLC, holding 4,475,847 shares of the stock with an approximate value of $143.5 million in GRAY stocks shares; and BLACKSTONE GROUP INC, currently with $61.89 million in GRAY stock with ownership of nearly New of the company’s market capitalization.

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Positions in Graybug Vision Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 22 institutional holders increased their position in Graybug Vision Inc. [NASDAQ:GRAY] by around 14,818,190 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 14,818,190 shares, according to the latest SEC report filing. GRAY stock had 22 new institutional investments in for a total of 14,818,190 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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